The Graham and Diane Smith Charitable Trust Registered No. 1115178 THE TRUSTEES, REPORT FOR THE TWELVE MONTHS ENDING 05.04.2022 The Trustees The Trustees who ser4ed for the whole period were:_ Graham Smith, Diane Smith. Mark Graham Anthony Smith Advisers Solicitors Ward Hardaway 5 Wellington Place Leeds LS14AP Bank Virgin Money 32 Town Street Horsforth LS18 4RJ Accou ntants Walker Broadbent Associates Chartered Accountants 45 Boroughgate Otley, LS21 AG Stockbroker Charles Stanley & Co 25 Luke Street London EC2A4AR Structure. Governance and Management The is constituted as a Trust and is governed by a trust deed dated 27.12.05 Contd.. 4 Objectives and Activities The two organisations that the charity has povided substantial support to in previous yeasrs, namely, Ilkley Community Entrprise Ltd {ICE) and Yeadon Town Hall (Management) Community Interest Company Ltd {￿HC1C) have both surlived the financial constraints of the Covid pandemic and are currently trading at levels last experiences before 2019. Both organisations are now in much stronger postions to move forward. The refurbishment of The Victorian Arcade has meant that ICE now has a single base from which to provide a wide range of services including a community cafe, training rooms and a base for its community SUPPOrt service. HCIC ha5 also been able to continue the internal refurbishment of the Town Hall albeit there is still substantial work and related cost to improve mobility access to the building. The management are also looking at a number of other developments in order to enhance the financial viability of the organisation. Subject to a detailed final appraisal the Charity will be providing financial support to move these initiatives for¥vard. During the year just finished the Charity completed the refurbishment of another supported living house in Ilkley. The house is now occupied by 2 ICE members and they are in turn supported by the ICE community SUPPOrt team. The Charity is currently appraising a number of other projects, which are consistent with its charitable objections and hope to move forward on these project during the current financial year. Reserves The charity intends to maintain sufficient reserves to generate a regular investment income in excess of £20,000 per annum. Financial Information In the year to April 2022 the charity received another donation from Mr Graham Smith. The charity can expect to receive further donations in futu￿ years although the amounts will vary from year to year. Until other major projects have been identified the trust's surplus assets have been invested in the portfolio of ordinary shares quoted on the London Stock Exchange in order to provide, in the Trustees. opinion, a better level of income than is available from bank deposits. 8 The trustees declare that they have approved the Trustees, Annual Report as set out above. GRAHAM SMITH DIANE SMITH TRUSTEE TRUSTEE DATED.. 8 IL ## **GRAHAM & DIANE SMITH CHARITABLE TRUST YEAR ENDED 5 APRIL 2022** ## **STATEMENT OF FINANCIAL ACTIVITIES** |**Incoming resources**
Donations received
HMRC Gift Aid
Dividends received
Interest received
Surplus on rental income
**Total incoming resources**
**Resources expended**
Charitable activities
Support & governance costs
**Total resources expended**
**Net incoming resources**
**Realied (losses) on quoted investments**
**Unrealised gains/(losses) on**
**quoted investments**
**Loan provision**
**Net movement in funds**
**Total funds brought forward**
**Total funds carried forward**|**2022**
**2021**
**£**
**£**
35,150
180,000
-
-
7,343
9,951
9,325
-
11,447
7,096| |---|---| ||63,265
197,047| ||2,750
1,700
2,442
3,106| ||5,192
4,806| ||58,073
192,241
15,054
30,461
19,960
35,487
-
(100,000)| ||93,087
158,189
966,047
807,858| ||1,059,134
966,047| ## **GRAHAM & DIANE SMITH CHARITABLE TRUST YEAR ENDED 5 APRIL 2022** ## **BALANCE SHEET** |**Fixed assets**
Freehold property
Quoted investments
Unquoted investments
Loans net of provisions
**Current assets**
Depost account
Current account
Cash held by investment managers
**Creditors**
Loan from Trustee
Accruals
**Net current assets**
**Net assets**
**Represented by**
**Unrestricted funds**|**£**
-
24,149
554|**2022**
**£**
**£**
695,723
143,608
1,557,042
200,200
2,596,573
-
101,924
457
102,381
(1,497,713)
(3,100)
(1,537,439)
1,059,134
1,059,134|**2021**
**£**
446,903
219,663
1,497,713
200,200| |---|---|---|---| ||||2,364,479
(1,398,432)| ||24,703
(1,557,042)
(5,100)||| ||||| ||||966,047| ||||| ||||966,047| On 8 December 2020 Mr G Smith, a trustee of the charity, sold his interest in the Solingen Private Equity Partnership (SPEP) to the Charity for £1,497,713. A further sale was made on 22 Jul 2021 amounting to £59,329. The consideration was funded by means of an unsecured interest free loan from Mr G Smith which is only repayable on the realisation of the underlying investments held by SPEP. If any of the loan is outstanding at the time of the death of Mr G Smith he has instructed his executors to donate the balance to the Charity. Approved by the trustees on __________________ and signed on their behalf by ## **G Smith** ## **Mrs D Smith** ## **The Graham & Diane Smith Charitable Trust Independent Examiners’ Report For the year ended 5 April 2022** I report to the Trustees on the Accounts of the Graham & Diane Smith Charitable Trust for the year ended 5 April 2022. ## **Responsibilities and basis of report** As the Trust’s Trustees you are responsible for the preparation of the Accounts in accordance with the requirements of the Charities Act 2011 (“the Act”). I report in respect of my examination of the Trust’s accounts carried out under section 145 of the Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. ## **Basis of Independent Examiner's Report** I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect: - the accounting records were not kept in accordance with section 130 of the Charities Act; or - the accounts did not accord with the accounting records; or - the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. ## **Malcolm V Walker B Mus FCA CTA** Walker Broadbent Associates Limited Chartered Accountants Lencett House 45 Boroughgate Otley LS21 1AG 15 August 2022